New Delhi: Two ambitious rail projects-proposed elevated rail corridor in Mumbai and a bullet train between Ahmedabad and Mumbai - got a boost today as Prime Minister Manmohan Singh finalized the targets for key infrastructure projects in PPP model in railways.

At a meeting with ministers and secretaries of key infrastructure ministries, it was decided to flag off the elevated rail corridor project for Mumbai suburban service with a total investment of Rs 20,000 crore in 2012-13.

The elevated rail corridor is crucial for Mumbai as it aims to give a faster service to daily commuters in the metropolis.

However, Railway Minister Mukul Roy was not present in the meeting. Chairman Railway Board Vinay Mittal attended the high-level meeting chaired by the PM.

It was also decided to finalise the action plan for the s500-km high-speed corridor from Mumbai to Ahmedabad, said railway sources. The project is estimated to cost about Rs 60,000 crore.

Known as bullet train project, the train is expected to run at 350 km per hour speed reducing the travel time to four hours between the two cities from seven hours by Duronto, the fastest train at present.